PSEi Breaks 5,700 Resistance Level

The PSEi pierced the 5,700 resistance level, closing at an all-time high of 5,706.28 on optimism about Greece’s debt situation and a turnaround in China’s manufacturing data. The main-share index picked up by 33.58 points or +0.59% to close at 5,706.28.

Sectoral indices were all positive led by Property (+1.19%), Mining & Oil (+0.73%) and Holding Firms (+0.63%). Market breadth was skewed positively with 76 advances and 75 declines with 56 issues unchanged. Value turnover was at Php7.93 billion.

According to the annual financial report published by the Commission on Audit (COA), the revenue of Government-owned and controlled corporations (GOCCs) registered at Php122.26 billion in 2011, Php43.76 billion higher than the Php78.49 billion posted in the previous year.

Moreover, state-owned firms incurred lesser expenses by as much as Php45.66 billion in 2011 which resulted in improved financial standings.

Leave a Reply

Your email address will not be published. Required fields are marked *